I love how all fan bases think that everyone just wants to play for them.Sexymarinersfan wrote: ↑Mon Jun 06, 2022 6:36 pmIts you're problem now Denver!!
https://streamable.com/902psm
Denver already getting to know their new QB
Re: Denver already getting to know their new QB
Re: Denver already getting to know their new QB
Waltons are buying the Broncos for $4.65 billion. Apparently former owner Pat Bowlen offered Elway a 10% stake in the team for money the team owed him in 1998, and Elway turned it down. His stake today (had he accepted it), is estimated at $900 million.
https://www.nfl.com/news/broncos-walton ... quire-team
https://www.nfl.com/news/broncos-walton ... quire-team
Re: Denver already getting to know their new QB
10% of $4.65B is $465Mdouche wrote: ↑Wed Jun 08, 2022 6:13 pmWaltons are buying the Broncos for $4.65 billion. Apparently former owner Pat Bowlen offered Elway a 10% stake in the team for money the team owed him in 1998, and Elway turned it down. His stake today (had he accepted it), is estimated at $900 million.
https://www.nfl.com/news/broncos-walton ... quire-team
dt
Re: Denver already getting to know their new QB
I neglected to mention that Bowlen originally offered him 10%, and then another 10% on top of that. Both of which Elway turned down.
Approx. 930 million total in today's dollars.
"Under the terms of the deal, Elway could’ve paid $15 million for a 10% stake and received another 10% in place of the $21 million in contract money he was due to receive. However, the QB ultimately turned down the proposal, which would have theoretically resulted in him taking home around $930 million as a result of the pending sale."
https://brobible.com/sports/article/joh ... 0-million/
Approx. 930 million total in today's dollars.
"Under the terms of the deal, Elway could’ve paid $15 million for a 10% stake and received another 10% in place of the $21 million in contract money he was due to receive. However, the QB ultimately turned down the proposal, which would have theoretically resulted in him taking home around $930 million as a result of the pending sale."
https://brobible.com/sports/article/joh ... 0-million/
Re: Denver already getting to know their new QB
Gotcha. Wow, why would he turn it down???douche wrote: ↑Thu Jun 09, 2022 4:04 pmI neglected to mention that Bowlen originally offered him 10%, and then another 10% on top of that. Both of which Elway turned down.
Approx. 930 million total in today's dollars.
"Under the terms of the deal, Elway could’ve paid $15 million for a 10% stake and received another 10% in place of the $21 million in contract money he was due to receive. However, the QB ultimately turned down the proposal, which would have theoretically resulted in him taking home around $930 million as a result of the pending sale."
https://brobible.com/sports/article/joh ... 0-million/
dt
Re: Denver already getting to know their new QB
Hard to say, but certainly not the best decision. Of course, hindsight is 20/20.
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Re: Denver already getting to know their new QB
Well, maybe he knew someday they would have to pay Wilson?D-train wrote: ↑Thu Jun 09, 2022 4:26 pmGotcha. Wow, why would he turn it down???douche wrote: ↑Thu Jun 09, 2022 4:04 pmI neglected to mention that Bowlen originally offered him 10%, and then another 10% on top of that. Both of which Elway turned down.
Approx. 930 million total in today's dollars.
"Under the terms of the deal, Elway could’ve paid $15 million for a 10% stake and received another 10% in place of the $21 million in contract money he was due to receive. However, the QB ultimately turned down the proposal, which would have theoretically resulted in him taking home around $930 million as a result of the pending sale."
https://brobible.com/sports/article/joh ... 0-million/
Re: Denver already getting to know their new QB
Michael K. wrote: ↑Thu Jun 09, 2022 6:39 pmWell, maybe he knew someday they would have to pay Wilson?D-train wrote: ↑Thu Jun 09, 2022 4:26 pmGotcha. Wow, why would he turn it down???douche wrote: ↑Thu Jun 09, 2022 4:04 pmI neglected to mention that Bowlen originally offered him 10%, and then another 10% on top of that. Both of which Elway turned down.
Approx. 930 million total in today's dollars.
"Under the terms of the deal, Elway could’ve paid $15 million for a 10% stake and received another 10% in place of the $21 million in contract money he was due to receive. However, the QB ultimately turned down the proposal, which would have theoretically resulted in him taking home around $930 million as a result of the pending sale."
https://brobible.com/sports/article/joh ... 0-million/
dt
Re: Denver already getting to know their new QB
Even crazier:
The deal: Denver Broncos owner Pat Bowlen would give Elway the right to buy 10 percent of the Broncos for $15 million. Bowlen would also give him the option to buy another 10 percent of the franchise by forgoing the deferred salary Bowlen owed him on the condition Elway would become a special assistant to Bowlen, which would eventually lead to a COO job. That total deferred salary? About $21 million.
But there was even more that made the deal a no-lose proposition. If Elway wasn't happy with his investment, he could sell back his interest, two to five years later, for $5 million more than his original purchase price plus 8 percent interest a year. Since the Broncos weren't making cash calls, it was essentially free money.
And then came the real kicker. If Elway agreed to the deal, he would have right of first refusal to buy any other stake in the team if the Bowlen family sold to an outsider. NFL teams don't come up for sale often.
The value of NFL franchises has skyrocketed, but even then the Broncos were worth plenty. Still, Elway had the wherewithal to easily make this deal. In 1997, he made the largest business deal an NFL player had ever made off the field by selling his car dealerships for what turned out to be $82.5 million, comprised mostly of AutoNation stock. Elway had nine months to think about the offer. The option to buy a piece of the Broncos expired in June 1999. In January, he led the team to its second straight title. In May, he retired. June eventually passed and Elway never executed the deal, which was not extended and never offered again.
https://www.espn.com/nfl/story/_/id/147 ... roncos-nfl
The deal: Denver Broncos owner Pat Bowlen would give Elway the right to buy 10 percent of the Broncos for $15 million. Bowlen would also give him the option to buy another 10 percent of the franchise by forgoing the deferred salary Bowlen owed him on the condition Elway would become a special assistant to Bowlen, which would eventually lead to a COO job. That total deferred salary? About $21 million.
But there was even more that made the deal a no-lose proposition. If Elway wasn't happy with his investment, he could sell back his interest, two to five years later, for $5 million more than his original purchase price plus 8 percent interest a year. Since the Broncos weren't making cash calls, it was essentially free money.
And then came the real kicker. If Elway agreed to the deal, he would have right of first refusal to buy any other stake in the team if the Bowlen family sold to an outsider. NFL teams don't come up for sale often.
The value of NFL franchises has skyrocketed, but even then the Broncos were worth plenty. Still, Elway had the wherewithal to easily make this deal. In 1997, he made the largest business deal an NFL player had ever made off the field by selling his car dealerships for what turned out to be $82.5 million, comprised mostly of AutoNation stock. Elway had nine months to think about the offer. The option to buy a piece of the Broncos expired in June 1999. In January, he led the team to its second straight title. In May, he retired. June eventually passed and Elway never executed the deal, which was not extended and never offered again.
https://www.espn.com/nfl/story/_/id/147 ... roncos-nfl